1. This chapter does not confer upon a municipality authority to pledge revenues for the payment of revenue securities. Any such authority must be derived from other law. 2. No state securities may be issued pursuant to this chapter for the purpose of acquiring revenue securities unless the governing body of the municipality issuing the […]
A pledge of allocable local revenues for the payment of a revenue security pursuant to the provisions of this chapter does not cause the revenue security to be a debt of the State. (Added to NRS by 1995, 389)
1. The Board may, at the request of the State Treasurer, issue state securities to refund any state securities issued pursuant to this chapter in the manner prescribed by and subject to the limitations of the State Securities Law for refunding. 2. No state securities may be issued pursuant to this section without the concurrence […]
1. The Board shall not become obligated with respect to a particular lending project unless the Board: (a) Has determined that the lending project is for a purpose related to natural resources and that the obligation to be incurred for the lending project will be exempt from the limitation on state debt set forth in […]
The Board shall determine the rate or rates of interest which state securities are to bear. These securities may be sold at par, above par, or below par at a discount determined by the Board. (Added to NRS by 1981, 769)
A municipality may sell its municipal or revenue securities to the State at a private sale and may pay or obligate itself to pay to the State fees or charges in connection with any lending project. (Added to NRS by 1981, 770; A 1993, 2322)
1. All revenues from lending projects must be deposited in the Fund for the Municipal Bond Bank in the State Treasury, which is hereby created as a special revenue fund. 2. Any revenue from lending projects which is in the Fund must be applied in the following order of priority: (a) Deposited into the Consolidated […]
1. The powers conferred by this chapter are in addition to the powers conferred by any other law. 2. Securities may be issued pursuant to this chapter without regard to any procedure required by law, other than those set forth in this chapter or in the State Securities Law. 3. This chapter does not authorize […]
As the provisions of this chapter are necessary to secure the public health, safety, convenience and welfare, the chapter must be construed liberally to put its provisions into effect. (Added to NRS by 1981, 770)
